Russian Agricultural Bank is a key financial institution in the realization of federal programs on agribusiness development.
In 2012, according to the Russian Government Resolution No. 717 dated July 14, 2012, was approved the State Program on Agribusiness Development and Regulation of Farm Produce, Raw Materials and Foodstuffs Markets for 2013-2020 (State Program).
In February 2019 came into force an updated version of State Program. It was prolonged till 2025 and includes the following:
Federal project “Export of agricultural products” (stipulates growth of exports of agricultural products to the amount of USD 45 billion) by 2024;
Federal project “Development of the system for support of farmers and expansion of rural cooperation” (aimed at growth of small and medium sized enterprises in agribusiness);
Departmental project “Digital Agriculture”.
The State Program on Agribusiness Development 2013-2025 (State Program) expands the scope and substitutes the State Program on Agribusiness Development 2008-2012 and the National Priority Project on Agribusiness Development 2006-2007.
Agribusiness development remains a priority in the Government’s social and economic policy.
The core goals of the State Program are as follows:
Maintenance of food security in Russia, taking into account the economic and territorial availability of agricultural products;
Increase in significance of the added value created in agribusiness;
Growth in exports of agricultural products;
Advance of the index of physical volume of capital investments to agribusiness;
Growth in disposable household resources.
Russian Agricultural Bank’s strategy is consistent with the State Program, which provides measures for the integrated development of agribusiness and related sectors.
In 2008-2012, Russian Agricultural Bank extended over RUB 1.7 trillion to implement the State Program on Agribusiness Development 2008-2012.
Starting 2013 and as of 1 June 2019, RusAg has extended over 3.1 million loans for the total amount of RUB 5.4 trillion, including: